Pan purchased 80%% of Spatula s common shares for $250,000 on August 1, Year ). Pan and Spatula Inc. had the following balance sheets on August 1, Year 5 prior to the purchase: Pan Spatula Fair Value Cash $310,000 $65,000 $65,000 Accounts Receivable $50,000 $59.000 $62,000 Inventory $40,000 $60,000 $65,000 Plant and Equipment (net) $300,000 $250,000 $210,000 Trademark $33,000 $23,000 Total Assets $700,000 $467,000 Accounts Payable $150,000 $115,000 $115,000 Bonds Payable $390,000 $207,000 $210,000 Common Shares $120,000 $85,000 Retained Earnings $40,000 $60.000 Total Liabilities and Equity $700,000 $467,000 Required: a) Prepare the journal entry to record the purchase of Spatula's common shares on August 1. Year 5 b) Prepare the calculation and allocation of acquisition differential schedule and prepare the consolidated balance sheet at August 1, Year 5 (in good format and write out all words completely, including account names). Include all #s in brackets on the consolidated BS: CV + CV =-FVIs c) Calculate goodwill and non-controlling interest on the consolidated balance sheet on August 1. Year 5 under the parent company extension theory. Hints: Goodwill = $212,500; Consolidated balance sheet total assets = $1,087,500